Tag: PhishingAttacks

The Pandemic Causing Increased Attacks on Corporate Security

Since the start of the pandemic, there has been much disruption in some industries. Many businesses have been challenged during the pandemic as a result of the difficulty of managing cyber and data security. Data breaches relating to remote workers and hacking of corporations continue to escalate at an alarming rate, require prompt response to mitigate the fallout.

There have been several significant shifts in the ways that businesses operate and their reliance on digital systems. Many businesses moved to a largely remote working model. Some have had to focus more on online activities in order to keep their brands active and visible. Businesses in a number of industries began to deliver products and services online for the first time. Meanwhile, those that already existed in online spaces saw an increase in business. All of these changes have meant that various security issues have arisen and become more prominent for businesses everywhere.

Increase in corporate data breaches

Cybercriminals have been taking advantage of the unprecedented circumstances caused by the pandemic, exploiting the vulnerabilities of businesses everywhere. Verizon carried out a recent study called ‘Analyzing the COVID-19 data breach landscape‘, which looks at 36 confirmed data breaches that were directly related to the pandemic. In addition, there was 474 data breaches between March and June 2020. Using this data, they determined that many cybercriminals were using the same methods to obtain data as before the pandemic while exploiting the disruption experienced by many businesses.

Remote Teleworkers facing cyber attacks threatening corporate security

One way in which corporate data breaches have been impacted by the pandemic is through increased use of ransomware. Seven of the nine malware incidents from Verizon’s 36 COVID-19 data breach cases demonstrated a spike in ransomware usage. Another change is in the way that criminals use phishing emails to play on the emotions of users. In a time when stress is high and mental health problems have increased, many people are more susceptible to phishing emails. Phishing was already a popular and often successful form of cyber attack before and even more so now.

Cost of data breaches for companies hit a record high in 2021

The cost of a data breach also hit a record high during the pandemic, according to IBM Security. They revealed the results of a global study showing the average cost of data breaches for companies surveyed was $4.24 million per incident. This is a 10% increase from the previous year. When remote work was a factor in the breach, data breaches cost an average of $1 million more. Stolen user credentials were the most common cause of data breaches. However, the study also showed the use of methods such as AI, security analytics, and encryption helped to reduce costs.

The COVID-19 pandemic has affected corporate data breaches due to a number of shifts in the way businesses are working, user behavior, and more. It’s vital for companies to take the right steps to prevent breaches and protect themselves.

If your company recently fell victim to a cyber attack, such as ransomware, or suspected data exfiltration by an unknown hacker, call Enigma Forensics today. We offer emergency incident response services and can help preserve available data, identify the origins of the attacker, and assist with the restoration of company services. Our experts have experience testifying and helping to mitigate risk and maximize your potential of recovering damages and lost data. Call us today at 312-668-0333 for a complimentary consultation.

Data Breach Incident Response
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Top Five Cyber Attacks

Phishing, Ransomware, Endpoint Security, IoT Devices and Cloud Jacking. What do they have in common? Top Five Cyber Attacks we are concerned about and you should be too!

The frequency of cyberattacks is growing. The following is Enigma Forensics’ top five cyber attacks that you should be made aware of.

Phishing Attacks are specific forms of email or text messages that are targeting victims to gain access to their personal information. Phishing messages often try to induce the receiver to click a link to a package shipment delivery message or other seemingly legitimate hyperlinks. It acts like a harmless or subtle email designed to get victims to supply login credentials that often become harvested by the attacker for later use in efforts to compromise their target. Sometimes phishing emails spoof the sender to be someone who has already been compromised. Once compromised, often times the compromised user’s mailbox is used to relay other outbound messages to known individuals in their saved contacts. This form of attack earned its name because it masquerades as an email of someone you may know and because you know the sender, you are more likely to nonchalantly open the email and click on the attachment to learn more about the content. With a click of a mouse, BOOM you can be compromised. This is a very easy and effective scam for cybercriminals. Warning: Do not open attachments or forward chain emails!

Ransomware is often spread through phishing emails that contain malicious attachments or through drive-by downloading. Drive-by downloading occurs when a user unknowingly visits an infected website and then malware is downloaded and installed without the user’s knowledge. The cybercriminal then holds the stolen information for ransom, thus the name! They may ask for a ransom payment in the form of digital currency such as bitcoin. Whether or not the victim pays the ransom depends on what information they have stolen or what criminals have threatened to do with the stolen information. Warning: Do not visit unsecured sites!

Remote Worker Endpoint Cyber attacks are currently the most popular because of the number of employees working from home caused by the Coronavirus. In the month of March, many workers were sent scurrying to their homes without companies placing proper cyber protection protocols. Employees are using their personal devices to conduct work and often are not fully patched, updated, and using encryption to protect their home devices against cybercriminals. Many company executives have been targeted at their homes, where they are much less likely to have commercial-grade firewalls designed to protect endpoints and company trade secrets.

IoT Devices attacks are a popular vehicle used by cybercriminals to establish a beachhead for launching lateral attacks across a home or work network. IoT devices involve extending internet connectivity beyond standard devices, such as desktops, laptops, smartphones, and tablets, to any range of traditionally dumb or non-internet-enabled physical devices and everyday objects. Embedded with technology, these devices can communicate and interact over the internet. They can also be remotely monitored and controlled. IoT Devices should be segmented and on a different network than corporate work from home devices. IoT devices pose a great threat because many of these devices lack automatic update processes and can become a beachhead for cybercriminal attacks in your home.

Cloud Jacking will increase with an estimated growth of cloud computing to be a $266.4 billion dollar industry in 2020. The idea of cloud storage makes one believe it is an improved option rather than the traditional on-premise computing storage. This will and has become a major security concern and has created a strong urgency to increase the creation of cloud security measures. Cybercriminals will up their game and cloud jack data information whenever possible. The race in on to see who does it cloud security better; the good guys or the bad guys. To protect against Cloud Jacking cyber attacks, organizations should enable two-factor authentication options, such as Google authenticator.

Two-factor authentication requires two of the three following means of authentication:

  • Something you know (A password)
  • Something you have (A key fob or cell phone authenticator)
  • Something you are (Retina Scan, Facial recognition, fingerprint)